EANS-Adhoc: Semperit Group: Sempermed Joint Venture, Thailand

06.05.2016 – 15:11

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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Joint Ventures/Cooperation/Collaboration
06.05.2016
As already reported, Semperit Group is involved in three arbitrations against
its Thai joint venture partner, Sri Trang-Agro Industry Public Co Ltd. Group and
the joint venture company Siam Sempermed Corporation Ltd. (SSC), respectively.
A final award was rendered in favour of Semperit in the arbitration proceeding
against the joint venture partners concerning the possibility to pass board
resolutions with a reduced quorum. The arbitral tribunal decided that the Sri
Trang Group nominated directors of SSC cannot and may not block SSC's
decision-making and also the Casting Vote of the Semperit nominated Chairman, by
not participating in board meetings.
Further, the joint venture partners are ordered to bear the costs of the
arbitration proceedings and of the ICC Court and to reimburse to Semperit an
amount of approximately EUR 2.8 million. In case the joint venture partners do
not comply with this final award, enforcement proceedings may become necessary.
Semperit will, for the time being, not change the current method of
consolidation (at equity) in relation to SSC.
About Semperit
The publicly listed company Semperit AG Holding is an internationally-oriented
group that develops, produces, and sells in more than 100 countries highly
specialised rubber products for the medical and industrial sectors: examination
and surgical gloves, hydraulic and industrial hoses, conveyor belts, escalator
handrails, construction profiles, cable car rings, and products for railway
superstructures. The headquarters of this long-standing Austrian company, which
was founded in 1824, are located in Vienna. The Semperit Group employs more than
7,000 people worldwide, including close to 4,100 in Asia and more than 800 in
Austria (Vienna and production site in Wimpassing, Lower Austria). The Group has
22 manufacturing facilities worldwide and numerous sales offices in Europe,
Asia, Australia and America. In 2015 the group generated sales of EUR 915
million and an EBITDA of EUR 101 million.
Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.com
Stefan Marin
Head of Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.comwww.semperitgroup.com
end of announcement euro adhoc
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issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
mail: investor@semperitgroup.com
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX Global Players
stockmarkets: official market: Wien
language: English